Very bad results in Nissan – Renault
The Nissan – Renault group after the worst results in a decade.
Nissan has collapsed 10% after its bad results: it gained 327.5 million euros between April and December (the first nine months of its fiscal year), which is 86.7% less than a year ago and the worst of the last decade, due to a slowdown in sales.
At the moment, Renault falls more than 3% after recording its first loss of profits in 10 years (annual loss of 141 million euros) and, in addition, the manufacturer has set a lower operating margin for 2020, a decisive year after the scandal that surrounded the former boss Carlos Ghosn.
The European automotive sector is moving flat at the moment of opening. Investors will be aware of how the sector evolves.
To these losses in the results there is another risk factor for the automotive industry: the coronavirus.
As reported by Faconauto, the Spanish employer’s concessionaires, “the outbreak of coronavirus in China could prolong the fall in vehicle sales and derail the production of the country and the global market.”
With the coronavirus outbreak, many plants have been forced to suspend their production to avoid possible infections. According to the rating agency S&P Global Ratings, it will make the exit from the recession of the sector even more difficult.
Faconauto recalls that German firms Daimler and Volkswagen have said they hope to resume production of vehicles in China. Volkswagen is more exposed to possible damage. It has 24 plants that manufacture cars or parts in China. It corresponds to 40% of its total production.
In addition, the employer emphasizes that Nissan has already announced that it would stop its facilities in its domestic market because of the virus.
Renault reduced its turnover by 21.7% in 2020, to stand at 43,474 million euros, compared to 55,537 million euros in Read more
Britain has plans for the so-called green industrial revolution Britain will move up a ban on new gasoline and diesel Read more
Ford's president believes there is a market opportunity right now where the company is growing again. The US vehicle manufacturer Read more
Tesla vastly beat analyst forecasts and may accelerate its entry into the S&P500 index. Tesla posted a fifth straight quarter Read more
Daimler notes car recovery faster than expected. Daimler recovered the sales rhythm in the third quarter after the stoppage suffered Read more
Stephen Girsky, former vice president of General Motors and member of the board of Nikola, has been named president. Trevor Read more
Dieselgate investigations continue. German prosecutors have extended their diesel-emissions probe (dieselgate) to include supplier Continental for its role in supplying Read more
Rane Engine Valves announces salary cut of 10-35% across levels. Rane Engine Valves Ltd on Friday said in view Read more
Year one electric Hummer EV annual production reserved. If there is a company that has monopolized all the media focus Read more
Great content! Super high-quality! Keep it up! 🙂
Hey! This post could not be written any better! Reading through this post reminds me of my old room mate! He always kept chatting about this. I will forward this post to him. Pretty sure he will have a good read. Many thanks for sharing!
Hi! This article deserves all the appreciation, it is well written and with
many valuable information. I want to share how I managed to get a job after I was fired,
maybe it will be helpful to someone: https://bit.ly/2RbR38c
fantastic put up, very informative. I wonder why the opposite experts of this sector do not realize this. You must proceed your writing. I am confident, you’ve a huge readers’ base already!|
I’ve been exploring for a little for any high quality articles or blog posts in this sort of area . Exploring in Yahoo I finally stumbled upon this website. Reading this information So i am satisfied to show that I’ve a very excellent uncanny feeling I discovered just what I needed. I such a lot for sure will make certain to don?t forget this website and provides it a glance on a relentless basis.|
Please let me know if you’re looking for a article writer for your
site. You have some really great posts and I feel I would be
a good asset. If you ever want to take some of the load off, I’d love
to write some material for your blog in exchange for a
link back to mine. Please shoot me an email if
interested. Many thanks!